Month: January 2019

Buy or rent in 2019 is the topic being debated by populations looking to make their housing investment in the new year. Just less than two decades ago renting was not a readily available solution for most of the population where as now with a rush of development and new market categories, rental living can offer the same accommodations and fulfill the same requirements as those living in their own home.

These better amenities along with flexible liabilities are two main pulls bringing even former home owners to the rental market and now studies show affordability may be the latest attraction. This contradicts much of historical housing trends that focus in on home ownership as being the best investment. But as analysts look at some of the nation’s most populated counties including Houston, Texas, limited availability, high mortgage rates and stiff competition are pricing many would be buyers out of the market.

Renting today may even mean long term benefits for those seeking residence in popular areas as the going market rate for the same house just 5, even 3 years ago has gone up substantially. This upswing isn’t expected to continue on for good however, as many veterans and analysts in the industry project that housing markets have become inflated and will soon meet their cap – and inevitable downturn. These are just some of the reasons why renting is becoming a more popular option. Other impacts like demographic changes as a new group of consumers become the majority decision makers in the market, home ownership is not always the sound investment it was thought to be with past generations.

As more restraints are being put on today’s developers building out the next generation of housing properties, a new wave of property styles are popping up that focus on efficiency of resource consumption and labor. The ability to reduce cost of investment and turn-around time is what most often stands in between a project idea and its actual completion.

Thirty-year veteran and CEO of Western Rim Properties Marcus Hiles shares, “Almost every property development project is likely to go past budget and intended deadline. This is due to the various factors of unforeseen costs and unpredictable impacts that a location can have on speed of production.” Whether it is regulations from building permits, shipping delays, depleted stock supplies, or labor issues; the undertaking of completing new development projects can often create a negative ripple effect on all involved that costs time and money. These factors combined have pushed the need for an alternative to be introduced into the development space that addresses the ongoing and unpredictable issues created by traditional building methods.